
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has announced a robust performance in Q3 FY25 and January 2025, marked by significant recovery and collection traction from its legacy portfolio. This progress includes recoveries from provided-for assets and pools sold to asset reconstruction companies (ARCs). Key highlights from the update include:
- Premium Projects Unlock Collections: A premium project in Central Mumbai, having received its occupation certificate (OC), sold five apartments at an average of ₹72 crore each, generating ₹175 crore in collections. The project is expected to unlock approximately ₹1,000 crore in collections over the next year.
- South Mumbai Super-Luxury Project: Accelerated collections from a super-luxury project in South Mumbai have begun. The first tranche from an anticipated ₹210 crore by March 2025 has been received, with a further ₹1,000 crore in collections expected within 12 months.
- Powai Property Recovery: A repossessed property in Powai, Mumbai, purchased by a large private equity fund, yielded a recovery of ₹220 crore.
- Court Judgements Boost NCR Recoveries: Favourable court judgments in the NCR region are set to unlock approximately ₹750 crore in recoveries over the next year.
Against a targeted collection of ₹3,750 crore for Q3 FY25, the company achieved collections exceeding ₹3,900 crore, surpassing expectations. These collections build on the ₹5,864 crore achieved in H1 FY25.
The company attributes this success to a buoyant real estate market, enabling strong collections and price realization, even from written-off assets. Sammaan Capital’s ongoing sale of delinquent pools to ARCs aims to expedite the rundown of its legacy loan book.
Sammaan Capital’s positive outlook reflects confidence in accelerating collections and recovery, supported by favorable market conditions.